- The VET/BTC pair was trading at 0.00000295 BTC with a gain of 5.79%
- The RSI shows substantial bearish divergence concerning the VET coin’s price action
- The 24hr trading volume for the VET coin is $1.02 Million
The VET coin displays the formation of a double bottom pattern in the daily time frame. The key resistance for this pattern was at the $0.14 mark, and yesterday, the price was able to give a breakout from this level. However, the breakout candle was not so significant, and thus, the VET traders can wait for a proper follow-up from price to confirm this breakout. The current price is the VET coin is $0.144, with an intraday gain of 0.96%
Concerning the EMA’s, the VET coin is trading above the crucial EMA’s of 20, 50, 100, and 200, indicating a bullish trend in this coin.
The RSI value is 73 (BULLISH), indicating a bullish sentiment for the TRX coin. However, the RSI line shows strong bearish divergence concerning the price action, suggesting weakness in the bullish momentum.
VET Coin Gives A Breakout From A Cup And Handles Pattern
The VET coin showcased another opportunity for its investors as the chart shows the formation of a Cup and Handle pattern in the 4hr time frame. The crucial resistance for this pattern stands at the $0.148 mark, the same as the pattern mentioned above. However, The coin’s price is currently trying to sustain above the breakout level.
The moving average convergence/divergence indicator (BULLISH) shows both the MACD signal line move higher than the neutral zone (0.00), indicating the bullish sentiment in the VET coin.
Conclusion: From the technical perspective, the VET coin shows a strong uptrend in his chart, projecting an excellent opportunity for the trend traders looking for long traders in the Cryptomarket
Moreover, with the breakout of the strong bullish pattern, the VET traders can grab an excellent strong-directional move in this coin.
Support: $0.14
Resistance: $0.165